ACC books are in good shape, according to the corporation’s briefing to incoming ACC minister Iain Lees-Galloway.
The briefing papers were made available today by the Government as part of a release of over 170 briefing papers and documents.
The corporation ended the year to 30 June 2017 with a $607 million surplus and $37 billion worth of assets and investments.
But the briefing paper notes ACC needs $37.7 billion in its coffers to cover the lifetime cash cost of supporting people who are already injured.
Mr Lees-Galloway also received a briefing about ACC from the Ministry of Business, Innovation and Employment (MBIE), which has responsibility for the scheme’s legislative framework and broader direction.
But he may have noticed the two ministries quoting different figures for the number of new claims in 2016/17, with MBIE quoting 1,782,841 new claims and ACC referring to 1,946,368.
But he may have noticed the two ministries quoting different figures for the number of new claims in 2016/17, with MBIE quoting 1,782,841 new claims and ACC referring to 1,946,368
MBIE notes that, from 2012 to 2016, the number of new claims has increased at a slightly faster pace than population growth. Claims involving entitlements as well as treatment are also on the rise.
The corporation pointed out 1,041,814 ACC clients sought GP services in 2016/17.
MBIE redacted some of the points it shared with the minister, which were titled “Things to be aware of”.
The full briefing document can be read here.